Chelsea teaches you how to not only ask for a raise, but also how to actually get one.
Hi i’m chelsea from the financial diet and today we’re gonna be talking about getting a raise at work not just asking for one but actually getting it a lot of you are probably aware that despite it being 2015 women still make roughly seventy eight cents for every dollar a man makes which sounds almost boring by now cuz we hear it so often and often feels like
There’s nothing we can do to help it but it’s up to each of us individually to really go after and advocate for what we deserve we have to get used to asking for what we merit and that takes the right strategies and skills now the first and arguably most important thing is to really know your company schedule now if this is a company where you can decide the time
For a raise conversation it’s really important to know your company’s schedule in terms of finances you get to know things like quarters when their sales schedule is when is generally a lean time versus a time with more money basically when the time would be good to ask because sometimes it’s just financially difficult for a company to give raises even if your
Performance has been incredible now if you work at a company and this is often bigger companies that are like this that have very strict schedules of performance reviews you really won’t be able to decide when is the right time to talk about a raise and you’ll have to plan around that schedule next you really need to understand your boss and their schedule you
Need to understand a bit about how they’re working when they’re very busy when they have more free time and you need to also give them a little bit of time to prepare for this generally you’ll want to schedule it about a week ahead and that will give them a lot of time to prepare for it and you as well and it’s really important to not approach them at a time when
They’re under enormous stress for a project or having a hard time at home or exhausted from something that isn’t going well your boss is a human being and you need to understand that their mood is going to obviously have a big impact on how your conversation goes so if you’re approaching them and you sense that it’s a really bad time all of a sudden it’s okay
To say hey things are really crazy around the office is it possible to reschedule this for a later date and to learn more about the mysterious world of bosses i went to the source and spoke to three different bosses in three different industries to hear about what they thought were some of the most important things to do when asking for a raise and this is what
They told me one have a concrete breakdown of your accomplishments over the year in terms of numbers and things that can really demonstrate how you exceeded your expectations because just meeting them doing a good job of what you’re supposed to do that just justifies your salary in order to get a raise you’re going to need to prove that you went above and beyond
And the more concrete your evidence the better to come with a firm number in mind of what you want as well as what you’re willing to compromise at three use sites like glassdoor.com to look at competitive salaries within your industry to see if what you’re looking for is even reasonable you may be asking for something that a company can’t even give you number four
Never be personal or threatening now as much as you don’t want to go into a meeting asking for things because of personal reasons i i need this money because of insert horrible thing that’s happening at home here you also don’t want to be professionally threatening saying you’re going to leave if you don’t get what you want is a good way to sour any boss and while
Technically you can say i was offered this much at a competing company or even ask your boss to match a salary you need to be prepared that the boss might very well say just go multiple bosses i spoke to told me that they had hard and fast rules that if someone came asking them to compete with a salary they just told them to go to the other company because they
Didn’t want to play for the attention of someone who wasn’t a hundred percent sure of being where they were five keep the tone friendly professional and neutral never get accusatory or weird now obviously if the conversation doesn’t go the way you wanted to go chances are that emotions might run high and you want to say something regrettable keep it to yourself
If you still feel that you need to advocate for yourself after the conversation do so via email once you’ve had a chance to collect your thoughts calm the hell down and put it in a coherent and non accusatory way number six keep the conversation as concise as possible one boss told me that she really loved it when employees would come with a one-sheet are really
Breaking down their reasons for asking for what they want because it allowed both parties to come up to speed without wasting a lot of unnecessary time and back-and-forth plus it gave it that concrete hard number breakdown that we talked about before and number seven never ever ever ever bring up the salary of another employee at your meeting if someone was kind
Enough to tell you what their salary is you could never bring it up because aside from deeply pissing off whoever you’re talking to you also are going to throw them under the bus for doing something really nice and letting you in on what they earn it can get them in a ton of trouble or possibly even fired if their boss finds out that they’ve been sharing their
Salaries so no matter how tempted you are to be like this person’s earning this much keep your mouth shut now one thing that every boss told me that seems to be true everywhere is that if you really feel that you’re not being served somewhere and you’re not happy with the salary or the result of the conversation you might just need to leave now obviously sometimes
The company’s hands are really tied in terms of how much of a raise they can or can’t give or your boss just might not agree with your reasons for wanting one but the point is if you’re really unhappy you might want to plan an exit strategy instead of sticking around for a whole nother year of quiet seething anger until your next performance review now they also
Noted that really the best time to establish your salary and the track you’re on is during hiring and during promotions because this is not only the time that a company can most clearly justify these big hikes and spending they’re also the time that you have the most to concretely negotiate with bear in mind that the bosses i spoke with told me that if you’re
Angling for a promotion it’s essential that you be able to demonstrate that you can already do the work of the job above you and this is similar to you know when you’re asking for a raise you have to be able to demonstrate that you went above and beyond the duties of your current salary now this can be a little bit difficult but it’s really important to prove to
Them that you’re capable of doing that job now asking for a raise is a very tricky thing especially for a young new professional but the right skills and strategies will enable you to start the conversation in your favor and end on a note that everyone is happy with you too can be a master of your salary destiny and as always don’t forget to hit the subscribe button
And go to the financial diet calm for more bye
Transcribed from video
How To Get A Raise | The Financial Diet By The Financial Diet
